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Britain releases huge infrastructure budget to support steel industry development

Add Time:2021-01-14 Hits:90

According to the 2020 budget document issued by the British government on March 11, the total investment in infrastructure and construction projects in the UK will reach 640 billion pounds from 2024 to 2025. It is understood that this is the UK's largest investment in infrastructure since 1955. The new budget will benefit British steel producers such as Liberty Steel and British Steel, especially when the government has promised to give priority to purchasing steel products produced in the UK. In addition, the British government also allocated 1.26 million pounds to the University of Leeds and the University of Sheffield to help the British steel industry achieve carbon neutrality by 2050. Comment: The huge amount of financial support is a powerful shot for promoting the transformation and upgrading of traditional industries and accelerating the conversion of new and old momentum for the British steel industry, which is gradually losing its competitive advantage and is in deep trouble.


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